Saudi Arabia’s Top Bank Follows UAE Rivals to Dollar Bond Market
The Stock Exchange Market (Tadawul) bourse in Riyadh.
Photographer: Fayez Nureldine/AFP/Getty Images
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Saudi Arabia’s National Commercial Bank hired advisers to tap the dollar bond market, joining rivals in the neighboring United Arab Emirates to take advantage of investors’ appetite for yield.
The bank mandated Citigroup Inc., Emirates NBD PJSC, Goldman Sachs Group Inc., JPMorgan Chase & Co., Mitsubishi UFJ Financial Group, NCB Capital and Standard Chartered Plc as lead managers and bookrunners for the potential Islamic bond offering, according to a statement.